Archive for ‘energy’

01/06/2020

‘Lemon’ or not, Trump is stuck with Phase 1 China trade deal

WASHINGTON (Reuters) – U.S. President Donald Trump has little choice but to stick with his Phase 1 China trade deal despite his anger at Beijing over the coronavirus pandemic, new Hong Kong security rules, and dwindling hopes China can meet U.S. goods purchase targets, people familiar with his administration’s deliberations say.

The U.S.-China trade negotiations took more than two years, heaped tariffs on $370 billion of Chinese products, whipsawed financial markets and dimmed global growth prospects well before the coronavirus outbreak crushed them.

In recent weeks, suggestions that Trump may cancel the deal have emanated from the White House almost daily, and businesses, investors, and China trade watchers are hanging on to every word and tweet.

But on Friday, when Trump said the United States would start dismantling trade and travel privileges for Hong Kong, he did not mention the deal. Stock markets heaved a sigh of relief, with the S&P 500 .SPX reversing losses.

Talking tough on China and criticizing the Obama administration’s more measured approach is a key part of Trump’s re-election strategy. Sticking with the pact may mean accepting that China is likely to fall short of purchase commitments for U.S. agricultural goods, manufactured products, energy and services – goals that many said were unrealistic here even before the pandemic.

Canceling the deal, though, would reignite the nearly two-year U.S.-China trade war at a time U.S. unemployment is at its worst since the 1930s Great Depression.

The next U.S. step would likely be reviving previously planned but canceled tariffs on some $165 billion worth of Chinese consumer goods, including Apple (AAPL.O) cellphones and computers, toys and clothing – all ultimately paid by U.S. companies and passed on to consumers. Beijing would retaliate with tariffs on U.S. goods, fueling more market turmoil and delaying recovery.

“He’s stuck with a lemon. He gets an empty agreement if he sticks with it, and he gets more actions that create an economic drag and more volatility if he abandons it,” said one person briefed on the administration’s trade deliberations.

U.S. goods exports here to China in the first quarter were down $4 billion from the trade war-damaged levels a year earlier, according to U.S. Census Bureau data.

The Peterson Institute of International Economics estimates here that during the first quarter, China made only about 40% of the purchases it needed to stay on target for a first-year increase of $77 billion over 2017 levels, implying an extremely steep climb in the second half.

Leaving the deal now would not buy a lasting political bounce for Trump in manufacturing-heavy swing states with five months to go before the presidential election, analysts say.

COMPLEX RELATIONSHIP

Trump blames China for failing to contain the coronavirus and has repeatedly said the deal, including its pledges to boost U.S. exports to China by $200 billion over two years, no longer means as much to him with U.S. coronavirus deaths now over 100,000 and job losses piling up.

Trump said on Friday that China was “absolutely smothering Hong Kong’s freedom,” but refrained from harsh sanctions that could put the trade deal in jeopardy, taking milder steps to revoke the territory’s separate travel and customs benefits from China.

Claire Reade, a former U.S. trade negotiator, said Trump’s “peripheral steps” would not deter Beijing from proceeding with the security law, as it regards Hong Kong as a core national security issue.

“Probably the most significant thing from the trade perspective is that the Phase 1 trade deal is – for now anyway – unaffected,” said Reade, senior counsel with Arnold and Porter law firm in Washington.

White House Economic Adviser Larry Kudlow criticized Beijing last week, but on trade told CNBC: “It’s a complex relationship. The China Phase 1 trade deal does continue to go on for the moment and we may be making progress there.”

U.S. Trade Representative Robert Lighthizer has recently cited here “continuing progress” in the deal, after China welcomed U.S. blueberries, barley, beef and dairy products. He has touted the deal’s dispute settlement mechanism, which provides for regular consultations on compliance with Beijing’s commitments on intellectual property protections, financial services, agriculture standards and purchases.

U.S.-China flashpoints on Hong Kong, Taiwan and other issues did not derail negotiations that resulted in new concessions from China, said Jamieson Greer, who served as Lighthizer’s chief of staff until April.

“Some of these security and human rights challenges have certainly complicated the atmosphere, but the trade agreement can still provide a set of rules governing important aspects of the trade relationship,” said Greer, now an international trade partner at the King and Spalding law firm.

Another person familiar with USTR thinking said the agency “needs to make Phase 1 look good. They want to show that progress is being made. The president looks at the China relationship much more broadly.”

Source: Reuters

14/05/2020

India’s carbon emissions fall for first time in four decades

A view of clear blue and white skies, clean air in the city during the nationwide lockdown to curb spread of coronavirus (Covid-19) at sector-30 near Delhi-Gurugram expressway on April 20, 2020 in Gurugram, India.Image copyright GETTY IMAGES

India’s CO2 emissions have fallen for the first time in four decades – and not just as a result of the country’s coronavirus lockdown.

Falling electricity use and competition from renewables had weakened the demand for fossil fuels even before the coronavirus hit, according to analysis by the environmental website, Carbon Brief. However, it was the sudden nationwide lockdown in March that finally tipped the country’s 37-year emissions growth trend into reverse.

The study finds that Indian carbon dioxide emissions fell 15% in March, and are likely to have fallen by 30% in April.

Virtually all of the drop-off in power demand has been borne by coal-fired generators, which explains why the emissions reductions have been so dramatic.

India emissions fall chart

Coal-fired power generation was down 15% in March and 31% in the first three weeks of April, according to daily data from the Indian national grid.

But even before India’s sudden coronavirus lockdown, the demand for coal was weakening.

The study finds that in the fiscal year ending March 2020, coal deliveries were down by around 2%, a small but significant reduction when set against the trend – an increase in thermal power generation of 7.5% a year set over the previous decade.

Indian oil consumption shows a similar reduction in demand growth.

Vehicles move through DLF Cybercity during nation wide lockdown amid Covid-19 coronavirus pandemic in GurugramImage copyright GETTY IMAGES
Image caption The nationwide lockdown finally tipped a 37-year emissions growth trend into reverse

It has been slowing since early 2019.

And, once again, the trend has been compounded by the impact of the Covid-19 lockdown measures on the transport industry.

Oil consumption was down 18% year-on-year in March 2020.

Meanwhile, the supply of energy from renewables has increased over the year and has held up since the pandemic struck.

This resilience the renewables energy sector shows in the face of the sudden reduction in demand caused by coronavirus is not confined to India.

Media caption Delhi smog disappears during India’s lockdown

According to figures published by the International Energy Agency (IEA) at the end of April, the world’s use of coal was down 8% in the first quarter of the year.

By contrast, wind and solar power saw a slight uptick in demand internationally.

A key reason that coal has taken the brunt of the fall in electricity demand is that it cost more to run on a day-to-day basis.

Once you have installed a solar panel or a wind turbine, operating costs are very low and, therefore, tend to get priority on electricity grids.

This photo taken on December 7, 2017 shows Indian labourers loading coal onto trucks at an open mine in Dhanbad in the eastern Indian state of Jharkhand.Image copyright GETTY IMAGES
Image caption India’s use of coal has plummeted, in line with that of other countries

Thermal power stations – those powered by coal, gas or oil – by contrast, require you to buy fuel in order to generate power.

But analysts warn that the decline in fossil fuel use may not last.

They say when the pandemic subsides, there is a risk that emissions will soar again as countries attempt to kick-start their economies.

The US has already started to relax environmental regulations and the fear is other nations could follow suit.

However, the analysis from Carbon Brief suggests there are reasons to think India could buck this trend.

The coronavirus crisis has brought the long-brewing financial troubles in the Indian coal sector to a head, and the Indian government is finalising a relief package which could top 900bn rupees ($12bn; £9.6bn).

But, at the same time, the government is talking about supporting renewable energy as part of the recovery.

Wind turbines generate electricity in Punniyavalanpuram, Tamil Nadu, India.Image copyright GETTY IMAGES
Image caption Renewables have the economic edge in India, offering far cheaper electricity than coal

Renewables have the economic edge in India, offering far cheaper electricity than coal.

The report claims that new solar capacity can cost as little 2.55 rupees per kilowatt hour, while the average cost for electricity generated from coal is 3.38 rupees per hour.

Investing in renewables is also consistent with the country’s National Clean Air Programme, launched in 2019.

Environmentalists hope the clean air and clear skies Indians have enjoyed since lockdown will increase public pressure on the government to clean up the power sector and improve air quality.

Source: The BBC

01/05/2020

Exclusive: India, Pakistan nuclear procurement networks larger than thought, study shows

NEW DELHI (Reuters) – Hundreds of foreign companies are actively procuring components for India and Pakistan’s nuclear programmes, taking advantage of gaps in the global regulation of the industry, according to a report by a U.S.-based research group.

Using open-source data, the nonprofit Centre For Advanced Defense Studies (C4ADS) report provides one of the most comprehensive overviews of networks supplying the rivals, in a region regarded as one of the world’s most dangerous nuclear flashpoints.

“India and Pakistan are taking advantage of gaps in global non-proliferation regimes and export controls to get what they need,” said Jack Margolin, a C4ADS analyst and co-author of the report.

It is seldom possible to determine whether individual transactions are illegal by using publicly available data, Margolin said, and the report does not suggest that companies mentioned broke national or international laws or regulations.

But past reports by the think tank, whose financial backers include the Carnegie Corporation and the Wyss Foundation, have often led to action by law enforcement agencies.

Spokesmen from the offices of India’s Prime Minister Narendra Modi, and Pakistan’s Prime Minister Imran Khan did not respond to requests for comment. Pakistan’s military, which plays a major role in decision-making for the nuclear weapons programme, also declined to comment.

To identify companies involved, C4ADS analysed more than 125 million records of public trade and tender data and documents, and then checked them against already-identified entities listed by export control authorities in the United States and Japan.

Pakistan, which is subject to strict international export controls on its programme, has 113 suspected foreign suppliers listed by the United States and Japan. But the C4ADS report found an additional 46, many in shipment hubs like Hong Kong, Singapore and the United Arab Emirates.

“In Pakistan’s case, they have a lot more stringent controls, and they get around these by using transnational networks… and exploiting opaque jurisdictions,” Margolin said.

The father of Pakistan’s atomic bomb, AQ Khan, admitted in 2004 to selling nuclear technology to North Korea, Iran and Libya. He was pardoned a day later by Pakistani authorities, which have refused requests from international investigators to question him.

India has a waiver that allows it to buy nuclear technology from international markets. The Indian government allows inspections of some nuclear facilities by the International Atomic Energy Agency, but not all of them.

Neither India or Pakistan have signed the international Treaty on the Non-Proliferation of Nuclear Weapons, adhered to by most nuclear powers. Consequently, they are not obliged to submit to IAEA oversight over all of their facilities.

C4ADS identified 222 companies that did business with the nuclear facilities in India that had no IAEA oversight. Of these, 86 companies did business with more than one such nuclear facility in India.

“It’s evidence that more needs to be done, and that there needs to be a more sophisticated approach taken to India,” Margolin said. “Just because the product is not explicitly bound for a military facility, that doesn’t mean that the due diligence process ends there.”

India and Pakistan have gone to war three times – twice over the disputed Kashmir region – since they won independence from British colonial rule in 1947.

Having for years secretly developed nuclear weapons capability, the two declared themselves nuclear powers following tit-for-tat atomic tests in 1998.

A few years later, in 2002, the two foes almost went to war for a fourth time, following an attack by Pakistan-based militants on the parliament in New Delhi. And a year ago, a suicide attack by a Pakistan-based militant group in a part of Kashmir controlled by India sparked another flare up in tensions.

Both countries are estimated to have around 150 useable nuclear warheads apiece, according to the Federation of American Scientists, a nonprofit group tracking stockpiles of nuclear weapons.

Source: Reuters

21/04/2020

India coronavirus: Can the Covid-19 lockdown spark a clean air movement?

Delhi before and after the lockdownImage copyright GETTY IMAGES
Image caption Delhi’s air quality has improved remarkably during the shutdown

When India shut down last month and suspended all transport to contain the spread of coronavirus, the skies over its polluted cities quickly turned an azure blue, and the air, unusually fresh.

As air pollution plummeted to levels unseen in living memory, people shared pictures of spotless skies and even Himalayan peaks from cities where the view had been obscured by fog for decades.

On one social messaging group, a resident of the capital, Delhi, which regularly records some of the foulest air in the world, celebrated the city’s “alpine weather“. Politician and author Shashi Tharoor wrote that the “blissful sight of blue skies and the joy of breathing clean air provides just the contrast to illustrate what we are doing to ourselves the rest of the time”.

Media caption India coronavirus lockdown cleans up Ganges river

Less than six months ago, Delhi was gasping for breath. Authorities said air quality had reached “unbearable levels”. Schools were shut, flights were diverted, and people were asked to wear masks, avoid polluted areas and keep doors and windows closed.

Delhi and 13 other Indian cities feature on a list of the world’s 20 most polluted. It is estimated that more than a million Indians die every year because of air pollution-related diseases. Industrial smoke, vehicular emissions, burning of trash and crop residue, and construction and road dust are the major contributors.

As urban Indians gazed at the skies and breathed clean air inside their homes, researchers hunkered down to track data on how the grinding lockdown – now extended to 3 May – was impacting air pollution across the country.

LucknowImage copyright GETTY IMAGES
Image caption Lucknow is another city on the top 20 world’s most polluted list

“This was an unprecedented opportunity for us to take a close look at how air pollution levels have responded to an extraordinary development,” Sarath Guttikunda, who heads Urban Emissions, an independent research group that provides air quality forecasts, told me.

Federal pollution control authorities quickly reported a marked improvement in air quality levels in 85 cities.

Dr Guttikunda and his team of researchers looked at the data spewed out by the 100-odd air quality monitoring stations all over India. They decided to concentrate on the capital Delhi and its suburbs – a massive sprawl called the National Capital region, where more than 20 million people live. Last winter, air pollution here had reached more than 20 times the World Health Organization’s safe limit.

Mumbai before and after the lockdownImage copyright HINDUSTAN TIMES
Image caption The financial capital Mumbai also seems very different

The deadliest particle in Delhi’s foul air is the tiny but deadly PM 2.5, which increases the likelihood of respiratory and cardiovascular diseases. They primarily come from combustion – fires, automobiles and power plants.

Urban Emissions found the levels of PM 2.5 in Delhi during the lockdown plummeted to 20 micrograms per cubic metre with a 20-day average of 35.

To put this into context, between 2017 and 2019, the monthly average of PM 2.5 in the capital was up to four times higher. (The national standard is set at 40, and the WHO has an annual average guideline of just 10 micrograms per cubic metre.)

“If 35 is the average lowest available PM2.5 with limited local emissions, it means that at least 70% of the pollution is locally generated,” Mr Guttikunda told me.

Media caption India coronavirus lockdown cleans up Ganges river

His study also found a marked dip in PM 10, caused mainly by road and construction dust, and nitrogen dioxide, which comes mainly from vehicular emissions, and nearly 90% of vehicles are off the road.

“The current crisis has shown us that clear skies and breathable air can be achieved very fast if concrete action is taken to reduce burning of fossil fuels,” says Sunil Dahiya, of the Centre for Research on Energy and Clean Air, which has also been tracking air pollution levels during the lockdown.

But will this prompt change? After all, urban Indians’ and the media’s panic and outrage during the deadly winter pollution every year soon gets lost in the fog of summer heat and concerns over monsoon rains and droughts.

“We don’t yet have a democratic demand for clean air,” Arunabha Ghosh, Chief Executive Officer of the Council on Energy, Environment and Water, a leading climate think tank, told me. Orders to clean up the air have almost always come from the courts, responding to pleas by NGOs.

Delhi pollutionImage copyright GETTY IMAGES
Image caption Pollution in Delhi peaks during winter

However, Dr Ghosh still hopes that “the experience of blue skies and fresh air could be a trigger to create a democratic demand for clean air in India”.

Crises often trigger life changing reforms. A fatal four-day “pea-souper” that engulfed London in 1952 and killed thousands provoked the passing of the Clean Air Act to reduce the use of smoky fuels.

China tried to clean up its air several times before hosting marquee international events – like the Beijing Olympics in 2008, the World Expo in Shanghai and the Guangzhou Asian Games in 2010 – before sliding back to grey, smoky skies.

But many believe the 2014 Apec meeting in Beijing, when China hosted 21 heads of Asia-Pacific economies, was a turning point. The rare blue skies over Beijing spawned the phrase ‘Apec blue‘. In a rush to clean its air, China introduced a set of far-reaching measures. Over the next four years, this resulted in a 32% drop in average pollution across major Chinese cities.

So could a lockdown to prevent the spread of a pandemic, which has imperilled the health and livelihoods of millions, trigger similar policy changes to clean up India’s air?

pollution campaignImage copyright GETTY IMAGES
Image caption The movement for clean air has been sporadic and mainly pushed by NGOs

Could it move to a shift in reducing traffic on the road by asking people to work from home in shifts now that millions have experienced clean air for the first time in years? (Facing energy shortages after the loss of the Fukushima nuclear power plant, Japan unleashed a Cool Biz campaign to cut down air conditioning in workplaces and reduce carbon emissions by asking office workers to shed their suits.)

Or can India use some of the money from an inevitable stimulus to help kick-start the economy go towards helping green industries? Renewables, experts say, creates more jobs than coal: India has already created nearly 100,000 jobs in solar and wind energy firms.

Can the country use the windfall revenues accruing from the steep decline in oil prices – most of India’s oil is imported – to provide rebates to polluting factories to set up much-needed emission control equipment?

“We have to learn lessons to deploy the economic recovery from the pandemic. We need growth, jobs and sustainable development,” says Dr Ghosh. Cleaning up the air could be the key. For too long, India – and Indians – have ignored their right to breathe easy.

What’s more, if China can reduce air pollution by 32% in four-and-a-half years, why can’t India pledge to reduce pollution by 80% in 80 cities by 2027, which is our 80th anniversary of Independence? asks Dr Ghosh.

It’s a good question.

Source: The BBC

20/04/2020

Euro zone trade surplus grows, with decline in China imports

BRUSSELS (Reuters) – The euro zone’s trade surplus with the rest of the world grew in February, with a decline in imports from China as well as sharply lower energy needs because of mild winter weather.

The unadjusted goods trade surplus grew to 23.0 billion euros ($25.1 billion) in February, compared with 18.5 billion euros a year earlier. Exports rose by 1.6%, while imports fell by 1.0%.

For China, which already had widespread coronavirus restrictions in place in February, exports from the European Union as a whole were slightly lower than in February 2019. However, imports were down by 8.1%, according to data on Eurostat’s website.

Energy imports as a whole also declined by 9.6% in February, when comparing Jan-Feb data issued on Monday and January data from a month ago. That translated into 10.1% lower imports from Russia and 5.9% less from Norway.

The trade surplus with the United States, by contrast, grew by 21% in the month as exports increased and imports declined. The persistent surplus in goods has been a source of transatlantic tension.

On a seasonally adjusted basis the euro zone trade surplus also rose to 25.8 billion euros in February from 18.2 billion euros in January. Exports were 1.8% higher month-on-month and imports 2.3% lower.

Source: Reuters

17/04/2020

Coronavirus: China oil titan warns of gathering ‘black swan’ risks for Beijing after pandemic

  • Fu Chengyu, the former chairman of China National Offshore Oil Corporation (CNOOC), says hostility towards Beijing will increase after the coronavirus
  • US will try to ‘thwart China’s rise’ and economic fallout from Covid-19 will be worse than the global financial crisis, says Fu
Former Sinopec chairman Fu Chengyu says China will face a more hostile world post coronavirus. Photo: EPA
Former Sinopec chairman Fu Chengyu says China will face a more hostile world post coronavirus. Photo: EPA

The world is set to become more hostile for China after the coronavirus as the risk of “black swan” events gathers for Beijing, a heavyweight in China’s state oil industry has warned, reflecting growing wariness about the geopolitical environment among political and business elites.

Fu Chengyu, the former chairman of both China National Offshore Oil Corporation (CNOOC) and Sinopec Group, painted an ominous picture of increasing antagonism from the United States and damaging unforeseen events, known as black swans, like Covid-19

 at an online symposium organised by business magazine Caijing.
The US would “mercilessly” suppress China in the fields of economics, trade, finance and technology, and Washington was set on taking advantage of the coronavirus pandemic to “forge a less favourable international environment for” the nation, Fu said this week.

“We’ve smelled the odours and new plots against China are in formation,” he said.

After the epidemic, the external environment for our survival will be more severe – Fu Chengyu
“After the epidemic, the external environment for our survival will be more severe … we must prepare for the worst and do our best to achieve the best possible results.”
While Fu has retired from his posts at state companies, he is an influential voice in

China’s oil industry

with decades of experience and contacts in the US petroleum sector.

Fu was a counterpart of Rex Tillerson, who was chairman of ExxonMobil from 2006 to 2017, and served as US State Secretary under President Donald Trump until March 2018.

While at the helm of CNOOC in the early 2000s, he felt political heat from Washington over a US$18.5 billion takeover bid for the American oil company Unocal in 2005, which the company was subsequently forced to withdraw.

China says no evidence to suggest coronavirus virus came from Wuhan’s lab
Speaking at the event in Beijing, Fu said that the coronavirus, which has heightened tensions between Beijing and Washington, will have impacts on global value chains and the world trade landscape for years to come.

“The crisis stemming from the coronavirus pandemic won’t be over in just one or two years … the impact will last longer than the 2008 global financial crisis,” he said.

He added that China would face numerous “black swan” risks in the future.

President Xi Jinping warned in 2019 that China must be on guard for black swan risks as well as “grey rhino” events, referring to an obvious threat that is often neglected.

Geopolitics is getting worse and worse, and we need to be very careful. The US will try various ways to thwart China’s rise, and energy is an important area

To respond to the economic fallout from the coronavirus, China must do more to create a self-sustaining domestic economy, Fu said, and in particular reduce input prices for gas and electricity and boost public services such as health care and education.

“Geopolitics is getting worse and worse, and we need to be very careful,” Fu said. “The US will try various ways to thwart China’s rise, and energy is an important area.”

The US could potentially form a new oil export alliance with Saudi Arabia and Russia to make it possible to cut oil supplies to China, he said.

“China must be prepared for such a scenario, and even when supplies are cut off, we can have some basic self-protection.”

Source: SCMP

10/04/2020

China factory gate deflation deepens as coronavirus paralyses global economy

BEIJING (Reuters) – China’s factory gate prices fell the most in five months in March, with deflation deepening and set to worsen in coming months as the economic damage wrought by the coronavirus outbreak at home and worldwide shuts down many countries.

The world’s second-largest economy is trying to restart its engines after weeks of near paralysis to contain the pandemic that had severely restricted business activity, flow of goods and the daily life of people.

Friday’s data from the National Bureau of Statistics suggested a durable recovery was some way off, with China’s producer price index (PPI) falling 1.5% from a year earlier, the biggest decline since October last year. It compared with a median forecast of a 1.1% fall tipped by a Reuters poll of analysts and a 0.4% drop in February.

Headline consumer inflation also eased somewhat last month, partly led by government control measures, while core prices remained benign, leaving more room for monetary easing, some analysts said.

The overall decline in the factory gate gauge was exacerbated by a slump in global oil and commodities prices, which filtered through to crude oil, steel and non-ferrous metal industries, the statistics bureau said in a statement accompanying the data.

“The issue of having more supply than demand, and persistently low oil prices, will intensify deflationary pressures,” said Yang Yewei, a Beijing-based analyst with Southwest Securities.

“Work resumptions on the production side are faster than the repair in demand. Downstream demand is recovering slowly and still remains weak,” he said.

The oil and gas extraction sector had the biggest year-on-year price fall of 21.7%, among the 40 major industrial sectors surveyed, deteriorating sharply from a 0.4% drop in the previous month.

The stringent travel and transport curbs have now been lifted across much of the country including Wuhan, the epicentre of the outbreak where the virus first emerged in late 2019. So far the virus has killed more than 3,300 and infected over 81,000 people in the country.

Analysts expect a deep first-quarter economic contraction in China and have grown increasingly pessimistic about the country’s prospects for 2020 due to the pandemic’s sweeping global impact.

Many economists and policymakers are forecasting a steep global recession this year as numerous countries are forced into lockdowns to contain the spread of the coronavirus, severely curtailing business activity in a major blow to jobs and incomes.

Worldwide, the virus has killed around 95,000 people and infected more than 1.5 million. Policymakers globally have responded to the crisis by launching an unprecedented package of stimulus measures, injecting trillions of dollars to backstop their economies that have been brought to a virtual standstill.

Beijing has also rolled out a series of fiscal and monetary support steps, and sources have told Reuters that policymakers are readying more stimulus in the coming months to stabilise growth and prevent mass unemployment.

China’s consumer prices rose 4.3% from a year earlier in March, compared with a 4.8% gain tipped by a Reuters poll and a 5.2% increase in February, as logistics and transport conditions improved and government price control measures kicked in.

But food prices still rose over 18% from a year earlier, led by a 116.4% jump in pork prices, the data showed. The virus outbreak has pushed up prices of some food items, such as pork and vegetables.

Core inflation – which excludes food and energy prices – remained benign last month at 1.2%,but it still edged up from 1% in February.

Source: Reuters

29/03/2020

China-initiated int’l energy organization promotes green power alternatives

BEIJING, March 28 (Xinhua) — Clean energy is becoming the mainstream of global energy supply and interconnection is the mainstream of energy allocation, according to the Global Energy Interconnection Development and Cooperation Organization (GEIDCO).

Over the years, China is active in clean energy development and power grid interconnection with neighboring countries, and has achieved significant breakthroughs in UHV grids, smart grids, and clean energy, GEIDCO spokesperson told a press conference via live stream on Friday.

GEIDCO remains committed to promoting the energy interconnection to meet global power demand with clean and green alternatives, making idea dissemination, planning and research, international cooperation and project promotion the focus of its work, said the spokesperson.

The 2020 Global Energy Interconnection & China-Asia Energy and Power Conference is expected to be held in Beijing in November to discuss and strengthen cooperation on sustainable development in the energy industry.

Founded in March 2016, GEIDCO so far had 860 members from 115 countries, covering fields including energy, electricity, information, finance, consultation, science and technology, and environmental protection.

The global energy interconnection is a platform that connects grids around the world to facilitate development, deployment and utilization of clean energy, with ultra-high voltage transmission as the backbone.

Source: Xinhua

22/02/2020

Trump in India: A brief history of US presidents’ trips

Indian Prime Minister Narendra Modi (L) and US President Donald Trump shakes hands as they speak during a bilateral meeting in Biarritz, south-west France on August 26, 2019.Image copyright GETTY IMAGES
Image caption Mr Trump is making his first official visit to India

US President Donald Trump is expecting a raucous welcome on his first official state visit to India on Monday and Tuesday.

He follows a long line of leaders who have made the journey. Some of his predecessors were greeted enthusiastically; others stumbled through diplomatic gaffes; one even had a village named after him.

Can history be a guide to how this diplomatic tryst might go? Here’s a brief look at past visits, ranked in order of how they went.

The good: President Eisenhower

Let’s begin at the beginning.

Dwight D Eisenhower, the first US president to visit India, was greeted with a 21-gun salute when he landed in the national capital, Delhi, in December 1959. Huge crowds lined the streets to catch a glimpse of the World War Two hero in his open-top car – Mr Trump is expecting a similar reception in Ahmedabad city, where he will be doing a road show.

President Eisenhower (L) with Prime Minister Jawaharlal NehruImage copyright US EMBASSY ARCHIVES
Image caption Dwight D Eisenhower, pictured with Prime Minister Jawaharlal Nehru, was the first US president to make the trip

The warmth between President Eisenhower and Indian Prime Minister Jawaharlal Nehru helped during what was a rocky phase in US-India ties. This was early in the Cold war, when the US and Pakistan had become become close allies, and India insisted on staying neutral or “non-aligned”. Like today, relations with China were at the core of the India-US equation, with Washington pressuring Delhi to take an aggressive stance with Beijing on the issue of Tibet.

But, on the whole, Eisenhower’s four-day trip was billed a success. And nearly every US president on a state visit to India has emulated his itinerary: he laid flowers at Mahatma Gandhi’s memorial, took in the splendour of the Taj Mahal, addressed parliament and spoke at Delhi’s iconic Ramlila grounds, which, according to one news report, attracted one million people.

When he left, Nehru said he had taken with him “a piece of our heart”.

President Eisenhower drove in open car to small village to get a glimpse of rural India on December 13, 1959.Image copyright US EMBASSY ARCHIVES
Image caption President Eisenhower was greeted by large crowds
Presentational white spaceThe game-changer: Bill Clinton

If there was a game-changing visit, it would be Bill Clinton’s in March 2000 with Prime Minister Atal Bihari Vajpayee. Mr Clinton’s arrival came after a two-decade lull – neither Ronald Reagan nor George Bush Snr made the journey East. It came at a tricky time as Washington had imposed sanctions on Delhi following its 1999 test of a nuclear bomb.

But, according to Navtej Sarna, a former Indian Ambassador to the US, the five-day trip was “a joyous visit”. It included stops in Hyderabad, a southern city that was emerging as a tech hub, and Mumbai, India’s financial capital. “He came and saw the economic and cyber potential of India, and democracy in action,” says Mr Sarna.

US President Bill Clinton shakes hands with local villagers after touring Nayla Village 23 March 2000.Image copyright GETTY IMAGES
Image caption Bill Clinton’s visit was described as “joyous”
Mr Clinton also danced with villagers, took a tiger safari and sampled Delhi’s famously creamy black dal (lentils) at a luxury hotel that has since been associated with the president.

The country’s reaction is perhaps best expressed in this New York Times headline: “Clinton fever – a delighted India has all the symptoms.”

The nuclear deal: George W Bush

George W Bush, as Forbes magazine once put it, was the “best US president India’s ever had”. His three-day visit in March 2006 was a highlight in the two countries’ strategic relationship – especially in matters of trade and nuclear technology, subjects they have long wrangled over. His strong personal dynamic with Prime Minister Manmohan Singh was hard to miss – after he left office, Mr Bush, a keen artist, even painted a portrait of Mr Singh.

The two leaders are credited for a historic but controversial nuclear deal, which was signed during Mr Bush’s visit. It brought India, which had for decades refused to sign the Nuclear Non-Proliferation Treaty (NPT), out of isolation. Energy-hungry India got access to US civil nuclear technology in exchange for opening its nuclear facilities to inspection.

George W Bush (L) with Manmohan Singh (R)Image copyright US EMBASSY ARCHIVES
Image caption George W Bush and Manmohan Singh had a very good relationship
However, while the visit was substantive, it was not as spectacular as others – there was no trip to the Taj, nor an address to parliament. But the timing was important. Anti-US sentiment over the invasion of Iraq was running high – left-wing MPs had staged a protest against Mr Bush’s visit, and there were demonstrations in other parts of India.

Double visit: Barack Obama

Barack Obama was the only president to make two official visits. First, in 2010 with Prime Minister Manmohan Singh, and then in 2015 with Prime Minister Narendra Modi.

On his first visit – in a break from the past – he landed in Mumbai, instead of Delhi, with a large trade delegation. This was not just about economic ties but a show of solidarity following the Mumbai terror attacks of 2008, which killed 166 people. Mr and Mrs Obama even stayed at the Taj Mahal hotel, one of the main targets.

It was significant that the US president declared support for India to join a reformed and expanded UN Security Council, says Alyssa Ayres, a former US deputy assistant secretary of state for South Asia. “That all these years later nothing has changed in the UN system is another matter, but that was a major policy shift for the United States.”

US President Barack Obama paying floral tributes at the samadhi of Mahatma Gandhi at Rajghat in Delhi.Image copyright US EMBASSY ARCHIVES
Image caption Barack Obama visited India twice
Mr Obama returned in 2015 as chief guest at India’s Republic Day celebrations, at PM Modi’s invitation. Trade, defence and climate change were at the heart of the talks. The trip also emphasised an Indo-Pacific strategy, where both leaders expressed unease over Beijing’s provocations in the South China Sea.

The not-so-good: Jimmy Carter

Although Jimmy Carter’s two-day visit in 1978 was a thaw in India-US relations, it was not free of hiccups.

With some 500 reporters in tow, Carter followed a packed itinerary: he met Prime Minister Morarji Desai, addressed a joint session of parliament, went to the Taj Mahal, and dropped by a village just outside Delhi.

The village, Chuma Kheragaon, had a personal connection: Carter’s mother, Lillian, had visited here when she was in India as a member of the Peace Corps in the late 1960s. So when Carter and his wife, Rosalynn, made the trip, they gave the village money and its first television set. It was even renamed “Carterpuri”, a moniker it still holds.

Jimmy Carter being greeted by villagers of 'Carterpuri'Image copyright US EMBASSY ARCHIVES
Image caption Jimmy Carter being greeted by villagers of ‘Carterpuri’
But beyond the photo-ops, India and the US were sparring. India was building its nuclear programme, and had conducted its first test in 1974. The US wanted India to sign the NPF, which sought to stop the spread of nuclear weapons. But India refused, saying the agreement discriminated against developing countries.

In a leaked conversation that made headlines and threatened to derail the visit, Mr Carter promised his Secretary of State, Cyrus Vance, a “very cold and very blunt” letter to Desai. The two leaders signed a declaration, promising greater global co-operation, but Carter left India without the assurances he had hoped for.

The ugly: Richard Nixon

Richard Nixon was no stranger to India when he arrived in August 1969 for a day-long state visit. He had been here as vice-president in 1953, and before that on personal trips. But, by all accounts, he wasn’t a fan.

“Nixon disliked Indians in general and despised [Prime Minister] Indira Gandhi,” according to Gary Bass, author of Blood Telegram: Nixon, Kissinger and a Forgotten Genocide. And, he adds, the feeling was said to be mutual.

This was also at the height of the Cold War, and India’s non-alignment policy “appalled” American presidents. Mr Bass says that under Gandhi, India’s neutrality had turned into a “noticeably pro-Soviet foreign policy”.

President Richard Nixon waves to crowds as he rides in open car with the acting president of India, Mohammad Hidyatullah, in motorcade from airport upon arrival here July 31.Image copyright GETTY IMAGES
Image caption Richard Nixon waves to the crowds alongside Mohammad Hidyatullah, India’s acting president
The relationship only turned frostier after the trip as India backed Bangladesh (then East Pakistan) in its fight for independence from Pakistan, a close American ally. The differences were laid bare when Gandhi visited the White House in 1971. Declassified state department cables later revealed that Nixon referred to her as an “old witch”.

And the future: Donald Trump

The US and India have certainly had their ups and downs, but during the last official visit in 2015, Mr Obama and Mr Modi signed a declaration of friendship: “Chalein saath saath (Let’s move forward together)…” it began.

President Trump’s visit will take the relationship forward, but it’s unclear how.

Students paint on canvas faces of US President Donald Trump (R) and India"s Prime Minister Narendra Modi, in the street in Mumbai on February 21, 2020, ahead of the visit of US President in IndiaImage copyright AFP

His arrival in Ahmedabad, the main city in PM Modi’s home state of Gujarat, followed by a big arena event, is expected to draw a massive crowd. It will echo President Eisenhower’s rally in Delhi years ago, perhaps cementing the personal ties between the two leaders.

But while Mr Trump’s trip will be packed with pageantry, it could be light on policy. Unlike other presidential visits, this one is not expected to yield concrete agreements, with the trade deal Mr Trump so badly wants looking unlikely.

Source: The BBC

10/12/2019

China, Sao Tome and Principe pledge to forge ahead ties

CHINA-BEIJING-LI ZHANSHU-SAO TOME AND PRINCIPE-TALKS (CN)

Li Zhanshu, chairman of the Standing Committee of the National People’s Congress, holds talks with president of the National Assembly of Sao Tome and Principe Delfim Neves in Beijing, capital of China, Dec. 9, 2019. (Xinhua/Liu Weibing)

BEIJING, Dec. 9 (Xinhua) — China’s top legislator Li Zhanshu held talks on Monday with visiting president of the National Assembly of Sao Tome and Principe Delfim Neves.

Li, chairman of the Standing Committee of the National People’s Congress (NPC), said China is willing to work together with Sao Tome and Principe to firmly support each other on issues concerning each other’s core interests and major concerns, and jointly safeguard the basis of the bilateral relationship of the one-China principle.

The two countries restored diplomatic relations in 2016 and therefore opened a new chapter for friendly cooperation between the two sides.

Li expressed China’s readiness to cement ties with African countries, including Sao Tome and Principe.

He also expected the two countries’ legislative bodies to advance exchanges and coordination.

Neves said Sao Tome and Principe will firmly adhere to the one-China principle, expressing the willingness to enhance cooperation in such areas as energy, infrastructure construction, fishery, health and culture.

Neves agreed to deepen friendly relations with China’s legislative bodies.

Source: Xinhua

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